Greencore PLC: announces Full Year and Q4-2024 Results

Dublin / IE. (gg) Irish Greencore Group PLC, a leading manufacturer of convenience food in the UK, issues its results for the 52-week period ended 27 September 2024, reporting a stronger than expected performance and a positive outlook as the Group enters FY-2025.

Chief Executive Officer Dalton Philips: «The Group delivered excellent progress against its key financial metrics and strategic priorities in the full Financial Year 2024, underpinned by close customer engagement in a period that continued to be defined by cost inflation and muted consumer confidence. I would like to thank all our Greencore colleagues whose continued dedication has enabled us to deliver these results. Over the last twelve months we have remained focused on making high quality food, rebuilding our profitability, and positioning Greencore to be known as the United Kingdom’s leading convenience foods manufacturer. We continue to make progress against each of our strategic objectives and are well positioned to continue this momentum in FY-2025 and over the longer term.

«The Group has maintained its strong financial discipline, with leverage reduced to 1.0x, while also returning a further GBP 40 million to shareholders and announcing an additional share buyback. I am also delighted that today marks a return to Greencore paying dividends. The strength of our balance sheet will provide us with the ability to invest in the growth and efficiency of our business and to pursue M+A opportunities on a selective basis, while also enabling us to deliver increasing returns to shareholders.

Looking ahead, we expect Adjusted Operating Profit for FY-2025 to be within the top half of the range of current market expectations and we’ll share more detail on our medium-term growth strategy at our Capital Markets Day in February.» For additional details please read the PDF file below (205 KB).

20241204-GREENCORE-FY2024.